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how do I prepare the reversing entries for questions 1, 4, and 6 1. services of $660 were provided but not recorded or collected 4.
how do I prepare the reversing entries for questions 1, 4, and 6
1. services of $660 were provided but not recorded or collected
4. interest of 645 on a note payable had accured
6. property taxes for the calendar year are payable every year on June 30. the company estimated property taxes for 2021 to be $3984
Prepare these reversing entries on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit May 1 (To reverse accrued revenue adjusting entry) May 1 (To reverse accrued interest adjusting entry) May 1 (To reverse accrued property tax adjusting entry) List of Accounts Save for Later adjustments were required for the following items: 1. Services of $660 were provided but not recorded or collected. 2. Of the balance in the Unearned Revenue account, $350 of services have been provided. 3. Depreciation expense for the year ended April 30, 2021, was $4,900. 4. Interest of $645 on a note payable had accrued. 5. Prepaid insurance of $395 had expired. 6. Property taxes for the calendar year are payable every year on June 30. The company estimated property taxes for 2021 to be $3,984Step by Step Solution
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